Jet Airways shares gain over 7% on Cabinet nod to Etihad deal

Shares of Jet Airways on Friday soared over 7 per cent after the Union Cabinet cleared the company's proposed sale of 24 per cent equity to Abu Dhabi-based Etihad.

Cheering the move, shares of Jet opened the day on a bullish note and further jumped 7.26 per cent to Rs 414.70 on the Bombay Stock Exchange.

On the NSE, the scrip surged 7.24 per cent to Rs 414.60.

Paving the way for the biggest ever foreign investment in India's aviation sector, the Union Cabinet on Thursday night cleared Jet Airways' proposed sale of 24 per cent equity to Etihad, days after the Rs 2,058-crore (Rs 20.58-billion)